Important Factors for Launching Crypto White Label Exchange

The cryptocurrency world is exploding as every next company has been accepting payments through cryptocurrencies. It also increases the number of users of cryptocurrencies. The investors' confidence level to opt for crypto white label exchange platforms has enhanced. The rise of NFTs gave birth to new reliable revenue sources. Recently, the value of the crypto market has reached 2 trillion. Thus, the growing concerns of crypto need to be addressed. Most people are interested in embracing crypto. Therefore it has become crucial to learn about the efficient crypto exchange market. Here in this blog, we will reveal the main steps before the launch of the white label exchange.

What is a White-Label Crypto Exchange?

Cryptocurrency exchanges allow users to buy, sell, and trade different cryptocurrencies. It plays the role of a stock exchange for investors to trade crypto into fiat, but instead of stocks, you buy or sell crypto assets. It enables you to perform trading using crypto into fiat. White label crypto exchange software is a better choice than traditional cryptocurrency exchange software development. For starters, thewhite label exchange softwaretakes less time and capital to develop. Also, a business can launch its exchange platform in a significantly shorter time. We can use exchange platforms in a more flexible and utilized way. Before launching the product on the desired blockchain, white-label exchange software developers test it several times.

- Decide the Platform to Operate Your Exchange

Finding the correct location for your exchange platform is the most necessary step. Therefore, it is crucial to explore a place where cryptocurrencies are owned legally and have no legal limitations.

- Choosing the Right Exchange Software Type

Currently, the market has three main types of exchange software such as decentralized, centralized, and hybrid. Based on the project requirements and needs, select the desired exchange type and proceed.

- Inquire the Legal Advice to Complete Licensing

The market of crypto is at an evolving stage. Thus, people are unaware of legal compliance. Seeking legal advice to complete the licensing process is very important. Legal advice will help you define the regulatory rules. Moreover, it can help you learn more about licenses and legal obligations.

- Collection of Liquidity

Liquidity is a factor that you will need to ensure the secure functionality of your trade exchange. It directly links the ability and the speed of setting orders for buying or selling cryptocurrency to liquidity. Further, it ensures the price fluctuation in the market. The bigger the liquidity, the faster the traders will set their orders.

- Integrating High-Level Security Features

Incorporate a high level of security features into your crypto white label exchange to prevent cyberattacks. As the cryptocurrency market is newly evolving, having no proper regulatory bodies.

- Beta Testing

Beta testing ensures the proper functionality of the features you deploy on the white label exchange platform. It will reveal the performance gaps you need to fill before going live.

- Marketing and Customer Support

Without marketing, brand reach and expansion are inevitable. The prime focus of the crypto exchange market is to provide services to clients and crypto traders. Thus, it is critical to maintaining a positive relationship with customers.

Must-Haves for White Label Cryptocurrency Exchange

You should assure the white label cryptocurrency solution comes with the following features.

- Robust Trading Engine

To increase user engagement or boost the trading volume, make sure you can carry out high-level transactions every minute in a faster way.

- Payment Gateway and Wallet Integration

Multi-currency payment gateways or wallets make it easier for each cryptocurrency exchange token to have its own wallet address for depositing and withdrawing funds.

- Know-Your-Customer (KYC)

Verify that all KYC and AML norms have been established and allow users to exchange funds only if these details have been filled correctly. You can use this to fight money laundering and terrorism financing.

- Interactive Charts or Graphs on Price Movement History

This information will enable cryptocurrency traders to predict future token prices based on past and present token prices.

Summing Up

Analyzing the surging popularity of cryptocurrency, businesses and investors are more inclined toward launching their crypto white label exchange. It gives you an ecosystem to perform secure and transparent trading of assets. Hashlogics provideswhite label crypto exchange softwarewith high-end features. It can help you launch a successful ecosystem for landing the trading platform. Contact us right away to start your journey on the exchange platform.